social media

The social media platform, Medium, has a bright future a head of it. In February 2014, the site received its first major external investment of $25 million dollars from Greylock Partners. Now Google Ventures and dozens of individuals are investing into the website. Investors are confidant that Medium will achieve its goal of reinventing the blog as a storytelling platform.

Medium has a large chance of being the next great social media site because its founders created Blogger and Twitter. Those two social media sites had a major impact on how people communicate. The founders created Medium in order to impact how people communicate again.

“Storytelling is a very powerful element of humankind. If we can improve and somehow move forward the way people share their stories and ideas, we think that can be pretty important.”

On Gartner’s Hype Cycle, the self-publishing platform, Medium is in the plateau of productivity stage. Self-publishing (blogging) websites have reached maturity due to mainstream adoption. It did not take long for blogging to reach maturity.

“Somewhere around 2005, blogging went crazy. It caught the attention of the mainstream media and garnered a lot of breathless press, with various bloggers becomes mini-celebs. The gold rush began as people assumed that anyone could start a blog and get rich quick. But by 2008, blogging had lost its lustre.”

Sue Charman-Anderson, Forbes Contributer

Even at maturity, blogging is still very popular (see stats below). There are dozens of blogging websites but Medium’s unique features set it a part. To learn more about the Gartner Hype Cycle and current blogging statistics visit gartner.com and socialmediatoday.com.